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VA Loans over $1m for Purchase and Refinance

VA Loans over $1m for Purchase and Refinance

We recently wrote a couple articles on the benefits of VA Jumbo Loans,  those over $417K.   Here are the two articles on VA Jumbo loans: 

VA Jumbo Purchase Loans

VA Jumbo Refinance Loans

Even though both articles are chock full of information on VA Jumbo (ie VA High Balance or VA Super Jumbo) loans,  I felt there were a couple of points to add.   

We offer VA Loans up to $1.5m.  Many banks cap their VA Loans at $650K or $1m.  Many lenders also do not allow you to exceed the VA County Loan Limit.   VanDyk Mortgage lends on VA Loans up to $1.5m, and we allow you to exceed the county loan limit.   Please visit the articles for details on how this is done.

The VA Refinance is also a great way to refinance out of a non-VA loan into the safety and security of the VA Fixed Rate Jumbo Loan.   Many luxury homeowners took advantage of ARMs such as Interest Only and Option ARM, only to be disillusioned as the market dropped.   As Conventional loans turned them down due to lack of equity, or offered exhorbitant rates on their Jumbo's, many Veterans are well served to call us and see what a VA Jumbo can do for you.   

Here is one scenario that we recently closed that illustrates this nicely.     

VA Refinance over $1m - Veteran borrower recently completed an extensive remodel on home.   First Mortgage was $840K, at a 6% rate.   They had taken out a $300K second mortgage to complete the remodel - it was an adjustable rate home equity line of credit (Heloc), and they had some miscellaneous construction costs being carried on Credit Cards totalling $30K.   A total of $1,170,000 owing.   The home is worth 1.4m.  Since the second mortgage and Credit Cards were included, their bank considered this a Cash Out Jumbo Loan, and capped the loan at 70% loan to value ($980,000),  far short of what they need to consolidate these loans, not to mention their Jumbo Rate was pretty high compared to a VA Jumbo Rate.

Here comes the good part for our Veteran:   We put together a VA Jumbo Loan that paid off the First Mortgage, Second Mortgage and the Credit Cards at a very competitive 30 yr fixed interest rate (under 5% at the time, now they are even lower this week).    Not only did the VA Loan get it done, it was a lower rate than the True Jumbo Rates being offered today.   Their county VA Loan limit was $417K,  if you are in a higher VA loan limit county,  you wouldn't even need as much equity as they had to make it happen.  

VA Purchase over $1M - Veteran Buyer in Oakland,  buying dream home on the hill.  OK, it was more like a castle.  The purchase price was $1,050,000.   The Oakland VA Limit is $1,000,000  (much of the bay area is at $1M for the VA Loan limit in 2011).    The VA Buyer put $12.500 down (1.19%) and received a very competitive 30 year fixed rate VA Jumbo loan in the amount of $1,037,500. 

VA Jumbo's require good credit, good assets, fully documented income and a good VA Loan Officer.   Call the VA Loan Pros at VanDyk Mortgage today at 866-900-2342 or get started online at 

VA Jumbo Loans over $1m are available throughout California and Washington, up to $1.5M

I changed these slightly to protect the privacy of each borrower, and left the VA FUnding fee out of the calculation to simplify, but it doesn't change it much.  

VanDyk offers VA loans, VA Jumbo Loans, VA condo loans

We service California and Washington state for VA Loans.   Call today to get started 866-900-2342 toll free direct. 



We proudly offer a full array of Government Conventional, and Jumbo loan Options including FHAVAUSDAFHA JumboVA Jumbo, VA Refinance, Conventional, JumboVA Condo loans,   FHA 2-4 Unit LoansVA 2-4 Unit Loans, FHA 203K Rehab Loans,  5% down Conventional loans Conventional Condo's OK to 95%,  95% conventional purchase with ZERO Monthly PMI, and more.  

Veterans:  We are able to help Veterans with a new home purchase with a VA Loan or VA Jumbo Loan as soon as 2 years after Bankruptcy, Foreclosure, or Short Sale (even sooner if Short Sale involved no late payments).  Call Today - get back into homeownership!  


--> VA Loan Limits for 2019.  Learn More - Up to $726,525 with zero money down VA Jumbo Loan 


--> VA Loans over the County VA Loan Limit - yes, we allow this:   Read more detail on how to get a VA Loan Over your County VA Loan Limit here  VA Loans up to $1.5M!


--> Answers to Common VA Loan Questions - VA FAQ Series

We serve the entire state of California  including: Anaheim,  Antioch,  Bakersfield, Brentwood, Burbank,  Carlsbad,   Chula VistaCorona,  Coronado, Downtown San Diego, EncinitasEscondido, Fallbrook,  Fremont,  FresnoHermosa Beach, Huntington BeachIrvineLong BeachLos Angeles, Marina Del Rey,   Menifee, Monterey, MurrietaOakland, Oakley,  Oceanside,  Ontario,  Pasadena ,  Poway,   Rancho Cucamonga,  Redlands,   Riverside,   Sacramento,        San BernardinoSan DiegoSan FranciscoSan JoseSan MarcosSan MateoSanta Ana,  Santa Clarita,   Santa MonicaTemecula, Torrance, Ventura, Vista, and all other CA Cities and areas.


We now serve the entire state of Virginia including Virginia Beach, Norfolk, Chesapeake, Richmond, Newport News, Alexandria, Hampton, Roanoke, Portsmouth, Suffolk, and all other Virginia Cities, Towns and Counties. 


We also serve the entire state of  Washington including:  Auburn, Bellevue, Bellingham, Bonney Lake, Bothell, Bremerton, Des Moines, Edmonds, Everett, Federal Way, Ferndale, Issaquah, Kent, Kirkland, Lacey, Lake Stevens, Lynnwood, Mercer Island,  Mill Creek, Monroe,  Montlake Terrace, Mt Vernon, Mukilteo, Olympia, Puyallup, Redmond, Renton, Seatac, Seattle, Silver Lake, Snohomish, Spokane, Sumner, Tacoma, Tumwater, Vancouver, Wenatchee, Woodinville, Yakima and all other WA cities and towns. 


We also serve Alabama, Colorado, Georgia, Illinois, Indiana,  Massachusetts, Michigan, Mississippi,  Indiana, Tennessee, Texas, and Wyoming Homebuyers and Homeowners.  


VA Loan Limits 2019     FHA Loan Limits 2019     Conforming Loan Limits 2019

All information is subject to change without notice.

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VanDyk Mortgage is a private company specializing in FHA & VA financing,  VanDyk Mortgage Corp is not a government agency. Corp 2449 Camelot Ct SE, Grand Rapids, MI 49546

copyright 2020 VanDyk Mortgage Corp


Branch address  310 Via Vera Cruz, ste 210 & 211, San Marcos, CA  92078  760-752-4480 direct

NMLS ID:  3035 - VanDyk Mortgage Corp   NMLS ID  220268  

Brian Skaar - Loan Originator / Branch Manager   


NY Disclosure:  Website authorization has not been approved by teh New York State Department of Financial Services.   Until this website is authorized, no mortgage loan applications for properties located in New York will be accepted through this site. 




Comment balloon 0 commentsBrian Skaar • August 30 2010 03:19PM
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